The Institutional Case for Bitcoin with Dan Morehead and Mike Novogratz

 
 
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“We’re just still in the really, really early innings in this thing. 100 million people have it, and we think that’s awesome, but there will be 6 billion people with it in 20 years”
— Dan Morehead

SHOW DESCRIPTION

Location: Squadcast
Date: Wednesday 11th November
Company: Pantera Capital & Galaxy Digital
Role: Co-Founder, CEO & Founder, CEO

2020 has been a year, unlike any other. With the coronavirus pandemic bringing the world to a standstill, the global economy is under significant pressure. Governments have needed to take action, and we have seen unprecedented levels of fiscal and monetary stimulus.

The current economic outlook highlights the bullish case for Bitcoin, and large institutions are beginning to take action. Microstrategy made the bold first move and put $425million of their treasury into Bitcoin. Michael Saylor's bold move sent a message to CEOs all over the world and shortly after Square followed suit with a $50million Bitcoin purchase.

So how seriously are institutions taking Bitcoin? And will we see a wave of institutional investment?

In this interview, I talk to veteran investors Dan Morehead, co-founder & CEO of Pantera Capital and Mike Novogratz, founder & CEO of Galaxy Digital. We discuss their first Bitcoin purchase, institutional interest & what they expect from Bitcoin in the coming years.

TIMESTAMPS

00:03:34: Introductions
00:05:31: Dan and Mike's Bitcoin story
00:08:11: The current political situation in the US
00:10:31: Bitcoin - the right time to invest?
00:14:12: COVID's positive impact on crypto currencies
00:16:16: Bitcoin and online payment systems
00:20:55: The long-term future of Bitcoin
00:24:04: Tattoos!
00:25:17: Smaller companies investing in crypto
00:31:14: Global currency devaluations
00:35:35: Implications of central bank borrowing
00:38:48: Wences Casares and Argentina
00:40:24: Bitcoin bringing global financial inclusion
00:43:32: The MicroStrategy investment
00:46:13: "Bitcoin is digital gold"
00:55:10: Dan and Mike give their short-term Bitcoin predictions
00:57:26: Final comments

 

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SHOW NOTES

PodcastPeter McCormack